The latest research from Newcastle Cityscope shows commercial property sales in Newcastle’s CBD have significantly increased in value. In the quarter to September 2017, there were 24 sales at a total value of $192.6 million, compared to 24 sales at a total value of $39.2 million in the previous quarter, and 27 sales at $39.5 million in the quarter to March 2017. This latest data brings the total sales value in Newcastle Cityscope to $374.6 million for the year, an increase from the $245.7 million recorded the same time last year.
The table below shows sales recorded in the last eight updates of Newcastle Cityscope.
Notable sales in the September 2017 update of Newcastle Cityscope include:
- Part of Marketown in lot 1 of DP1219712, at 23 Steel Street, Newcastle, a commercial and retail building complex, incorporating shops, a supermarket and a seven-theatre cinema, which sold for $95.85 million;
- Remaining part of Marketown, at 136 Parry Street, Newcastle, a single-storey cement shopping complex of 58 shops with a single-storey brick retail building in the southern corner of the site and a sealed parking area for 920 vehicles, which sold for $67.4 million and
- 59 Darby Street, Cooks Hill, a two-storey office building of 2,681 sqm with adjacent annex, a single-storey building and rear yard used for parking, which sold for $6.85 million.
Properties listed as for sale in the September 2017 update of Newcastle Cityscope include:
- The Store, at 858 Hunter Street, Newcastle West, a large 3-storey emporium building with a rendered brick art deco facade, for sale through Colliers International Newcastle;
- The Cambridge Hotel, at 789 Hunter Street, Newcastle, a two-storey brick and tile-faced hotel, and 5 Denison Street, a two-storey rendered brick office building available together with an asking price of $9.2 million through Colliers International Newcastle and
- 299 Hunter Street, Newcastle, a two-storey brick building, formerly Kensington Theatre, on a site area of 547 sqm, for sale by auction on 21 September 2017 through Colliers International Newcastle.
Leasing opportunities in the September 2017 update of Newcastle Cityscope include:
- 18 Honeysuckle Drive, Newcastle, a 3-storey podium and a 7-storey commercial office building, which has office space of 5,000 sqm for lease through Colliers International Newcastle;
- City Arcade, at 120 Hunter Street, Newcastle, a three-storey Art Deco office building with ground floor retail arcade, which has shops 1, 2 and 3 for lease through Raine & Horne Commercial Newcastle and
- 94-96 Parry Street, Newcastle, a two-storey office building with parking at rear for 10 cars, which has office space of 910 sqm for lease through Walkom Real Estate - Newcastle.
Cityscope covers 28 predominantly capital city CBD markets across Australia and New Zealand, providing a rich level of property level data including building attributes, tenancy detail, sales and ownership.For more information on Cityscope or any other CoreLogic products call 1300 734 318 or visit the website at www.corelogic.com.au/products/cityscope. Subscribe to the free Commercial Pulse eNewsletter Get the latest commercial news and sales data each week from our CoreLogic Commercial Pulse! Click here to subscribe